Data Quality special report
October 2015 -- Sponsored by Eagle Investment Systems and SIX Financial Information
Click here to download the PDF
Control and Automation
For this report, Inside Reference Data asked participants in the Virtual Roundtable feature how data sourcing issues can help or hinder data quality. Their responses all seemed to drill down to the issue of ownership of the data.
BNY Mellon's Amy Harkins says the biggest challenge when sourcing data in a large firm is putting its assessment in the hands of a single business owner. Eagle Investment Systems' Marc Rubenfeld identifies control of the sourcing as the greater issue. Control of the data, he says, makes it possible to enrich, repurpose or otherwise apply it to reporting, benchmarking or analysis. Firms should "have complete control of it and truly own it," he says.
Looking at another issue that can affect data quality-the automation of data processing-it seems it doesn't necessarily mean that quality will be decreased. Rubenfeld sees automation as "critically important to data quality, as it helps to discover errors that wouldn't otherwise be discernible," he says.
HSBC's Chris Johnson identifies another benefit of automation-getting faster data validation checks. SIX Financial Information's Dominique Tanner says when there are deficiencies in automated data processing, they can be corrected so they do not reappear. He brings the question around to sourcing, noting that firms must understand how sources are delivering data to properly map data to the correct fields. That's the precursor to automation.
A data-centric processing and delivery model or a centralized data team could be the best ways to raise the quality of the data being produced. That appears to be the frame under which ownership and automation should be sorted out.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
The IMD Wrap: Talk about ‘live’ data, NAFIS 2024 is here
This year’s North American Financial Information Summit takes place this week, with an expanded agenda. Max highlights some of the must-attend sessions and new topics. But first, a history lesson...
Waters Wavelength Podcast: S&P’s CTO on AI, data, and the future of datacenters
Frank Tarsillo, CTO at S&P Global Market Intelligence, joins the podcast to discuss the firm’s approach to AI, the importance of data, and what might be in store for datacenters in the coming years.
Breaking out of the cells: banks’ long goodbye to spreadsheets
Dealers are cutting back on their use of Excel amid tighter regulation and risk concerns.
BMO’s cloud migration strategy eases AI adoption
The Canadian bank is embracing a more digital future as its cloud strategy makes gains and it looks to both traditional machine learning and generative AI for further augmentation.
Waters Wrap: GenAI and rising tides
As banks, asset managers, and vendors ratchet up generative AI experiments and rollouts, Anthony explains why collaboration between business and tech teams is crucial.
People Moves: NorQuant, Tradition, Duco, HKEx, SimCorp, Hazeltree, Xceptor, Broadridge, and more
A look at the past month’s people moves in the capital markets technology and data space.
Northern Trust building internal cloud data ‘marketplace’
Using a mix of in-house expertise and third-party technologies, the firm has constructed a cloud-based data mesh that gives internal staff access to proprietary datasets and analytical tools to deliver greater insights into client activity.
FactSet looks to build on portfolio commentary with AI
Its new solution will allow users to write attribution summaries more quickly and adds to its goal of further accelerating discoverability, automation, and innovation.
Most read
- Waters Wavelength Podcast: S&P’s CTO on AI, data, and the future of datacenters
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- BMO’s cloud migration strategy eases AI adoption